The rate cut was twice as much as the most dovish estimate in a Reuters poll, which forecast the policy repo rate (TRINT=ECI) would fall by only 50 or 100 basis points. The bank said there would be little room for more rate cuts this year given what it called transitory price pressure on food, energy and other imports, which have sent Turks' living costs soaring as the currency depreciated. ISTANBUL, Oct 21 (Reuters) - Turkey's central bank shocked markets again by slashing its policy rate by 200 basis points to 16% on Thursday, sending the lira to a new all-time low and delivering the easing demanded by President Tayyip Erdogan despite rising inflation.
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